New Delhi, July 24 -- India's private sector growth slowed further in July, recording the weakest pace of expansion since March 2022, as challenging market conditions, competitive pressures and weaker demand weighed on business activity, according to the HSBC Flash PMI data report.

The report said the HSBC Flash India PMI Composite Output Index fell to 54.3 in July from 57.1 in June, signalling the slowest pace of expansion in private sector activity since March 2022.

HSBC Flash India PMI Composite Output Index is a seasonally adjusted index that measures the month-on-month change in the combined output of India's manufacturing and services sectors

It stated, "The HSBC Flash PMI(R) data for July showed the weakest expansions in private...